What is the importance of the Emancipation Proclamation?

In Sept. 1862, Lincoln issued the Proclamation of Emancipation declaring that if any State continued to rebel till January 1, 1863, it would be presumed that the slaves living in that state were automatically free and their masters had no right over them. Thus, by this Proclamation, Lincoln abolished slavery in the areas still in rebellion against the federal government. The Emancipation Proclamation freed all the slaves and set forth an example for other countries to do so.